MA
Marco-T
Rep: 0
Posts: 41
Yeah finally something moves, it is exciting and boring all together to watch this sideway market all day.
Sim-Trade got stopped out with a few ticks and I could do some homework with your 13/60 min TF.
Sim-Trade got stopped out with a few ticks and I could do some homework with your 13/60 min TF.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yeah, it's basically a waste of time lately with the ES for most of the day. That's why I follow crude now for most of my time.
The MRRD's gave it a try here, but they haven't got the juice. Maybe tomorrow the Fed has a talk with them and they get going, but we may have seen our sea change.
As far as a setup on the 3-min timeframe, my style is to not hold it for hours waiting for something to happen. I'm willing to sit on it if it is grinding in my direction, but if it goes into sideways chop I usually want to get out. Also, I'm cautious with grinds, especially under certain circumstances, like when it creeps a TL, as those tend the break fast. So, if I were short off that morning ABCD, I would likely pull the plug around 13:30 when it stopped going down, went sideways, then started to pop up a bit. With an entry trigger around 18, it was still good for perhaps a point at that point. Once the downward price flow was broken, given the 'context' I mentioned earlier, I no longer see enough edge. Just some thoughts and opinions.
The MRRD's gave it a try here, but they haven't got the juice. Maybe tomorrow the Fed has a talk with them and they get going, but we may have seen our sea change.
As far as a setup on the 3-min timeframe, my style is to not hold it for hours waiting for something to happen. I'm willing to sit on it if it is grinding in my direction, but if it goes into sideways chop I usually want to get out. Also, I'm cautious with grinds, especially under certain circumstances, like when it creeps a TL, as those tend the break fast. So, if I were short off that morning ABCD, I would likely pull the plug around 13:30 when it stopped going down, went sideways, then started to pop up a bit. With an entry trigger around 18, it was still good for perhaps a point at that point. Once the downward price flow was broken, given the 'context' I mentioned earlier, I no longer see enough edge. Just some thoughts and opinions.
MA
Marco-T
Rep: 0
Posts: 41
Hmm, new 7 days (overnight) low and now we took out the overnight high.
Did some Fibs from the last days highs to the new low and the actual market
turning point is a .618, .786, 1.113 grouping.
Lets see where this lets too ...
Did some Fibs from the last days highs to the new low and the actual market
turning point is a .618, .786, 1.113 grouping.
Lets see where this lets too ...
JA
jarek
Rep: 94
Posts: 3,474
Looks like we have our top behind us.
Too many were waiting for a high in September and/or SPX 1100 ...
Too many were waiting for a high in September and/or SPX 1100 ...
JI
jimkane
Rep: 3,058
Posts: 33,089
We are now at the DT ABCD on the 60/daily that I mentioned, so let's see what they do here.
I hope everyone saw that this swoooosh selloff started dead off an EXP ABCD on the GLOBEX.
I hope everyone saw that this swoooosh selloff started dead off an EXP ABCD on the GLOBEX.
JI
jimkane
Rep: 3,058
Posts: 33,089
Let's see if this 3-drives into this multiple line covergence can even bounce this thing a little. This is a major pattern with lots of lines and Fibs, in line with the uptrend. If this fails here, that would imply a strong likelihood the intermediate top is in, perhaps a longer-term top. Let's see if they can follow through here with more than this tiny little reaction...
JI
jimkane
Rep: 3,058
Posts: 33,089
Anyone want to take a shot at showing that EXP from this morning, or the bigger DT ABCD in here?
JI
jimkane
Rep: 3,058
Posts: 33,089
From MP I watch the POC, VAH, and VAL, and all previous virgin POC's, but only in the 'context' of them fitting in with the methodology.
Did you see that ABCD at a .300/.382 overlap and key set line that this started up off of just now? I have to wonder if it's done all it can today, though. We'll see. My plan is to stay long side bias until it clearly says otherwise. That may be in here, or it may not be.
Did you see that ABCD at a .300/.382 overlap and key set line that this started up off of just now? I have to wonder if it's done all it can today, though. We'll see. My plan is to stay long side bias until it clearly says otherwise. That may be in here, or it may not be.